Comments on: How to Prioritize Your Debts for Payoff

By: Spending Cash Is the Same As Borrowing If You Have Debts « Daily News

Spending Cash Is the Same As Borrowing If You Have Debts « Daily News — Wed, 12 Aug 2009 16:22:08 +0000

[...] common financial strategy for someone who is trying to pay off their debts is to allocate some of their savings into a different account which might be used for some sort of [...]

By: Ways To Pay Off Debt

Ways To Pay Off Debt — Tue, 21 Apr 2009 00:37:50 +0000

Thanks for this quick tips,about debt,btw you should check your site in Opera.

By: kzaveri

kzaveri — Sun, 18 Jan 2009 05:44:58 +0000

I will recommend using DesktopBudget.com Its the best offline personal finance manager I have seen up till now.

By: The 25 most helpful articles written by PF bloggers

The 25 most helpful articles written by PF bloggers — Sat, 17 Jan 2009 16:45:33 +0000

[...] How to prioritize your debt to pay off – Picking which debts to pay off first is often debated. This is one take on it. [...]

By: Polly Poorhouse

Polly Poorhouse — Fri, 03 Oct 2008 04:17:59 +0000

Different priorities apply for different economic situations. Trying to pay down debt is different than trying to allocate payments when you don’t have enough to go around, like we did after a recent bought of unemployment. In that case, we prioritized:

1) Mortgage
2) Mortgage 2
3) Auto loan
4) Credit cards with a universal default clause or where a late payment would drive up an interest rate
5) Utility bills–usually no late penalties and a several month grace period before they threaten to shut you off.
6) Anybody else

Now that we’re able to meet our monthly obligations, at least with the minimum payments, my priorities for any extra (debt-reduction) payments are.

1) Credit cards with super high rates
2) Local payees we know (dance and piano teachers, for example)
3) Other credit cards.

I’d put my mortgage or any tax deductible interest like that on business loans at the very bottom of the list for prepaying.

Other than the local people we know, we prioritize based on interest rates.

By: Christopher

Christopher — Sun, 08 Jun 2008 03:30:08 +0000

You’re welcome. That debt calculator has helped me and I’m certain it can help your readers.

By: PT

PT — Fri, 06 Jun 2008 22:58:39 +0000

That’s pretty neat, Christopher. Thanks for sharing. Nice freebie.

By: Christopher

Christopher — Fri, 06 Jun 2008 22:45:07 +0000

I came across this debt calculator. It has some nice variables to see if its best to pay off the highest interest first, or the smallest balance, or some other variable. Good luck!

http://www.vertex42.com/Calculators/debt-reduction-calculator.html

By: bunny

bunny — Thu, 15 May 2008 03:56:04 +0000

Wooo.. reminds me that I still have to pay of my student loan

By: April Roundup, New Antishay Stuff | Antishay Ventenne

April Roundup, New Antishay Stuff | Antishay Ventenne — Mon, 12 May 2008 04:16:47 +0000

[...] How to Prioritize Your Debts For Payoff at Prime Time Money [...]